The northern Pacific island state of Palau is looking to increasing its imports by creating tax incentives for fish farming and agriculture projects.
According to the latest Palau Deparment of Administration report, imports to Palau in 2001 reached 96 million US dollars, while exports topped off at 9 million US dollars.
The President Tommy Remengesau says for projects with at least a 50-thousand dollar investment, import taxes will be suspended for up to five years.
He says examples of permissible projects are livestock, crop farming, black pearls and giant clams.
But Mr Remengesau says the aim is first to supplant local imports of food products, and later produce enough for export.
